Kirloskar Brothers eyes acquisitions in the US, Europe
26 June 2009
Aiming at becoming one of the leading pump makers in the world, Pune-based Kirloskar Brothers (KBL) has set up a core group to consider making acquisitions in the US, Europe and the Far East. The company has made four overseas acquisitions since 2002, with one in the UK.
The company is in talks with 4-5 companies and expects to finalise the deals within this financial year.
"The current slowdown has thrown up a lot of opportunities abroad; so we are looking to acquire some companies in the US, UK and Far East," Pradeep Chapalgaonkar, vice president, Kirloskar Brothers, said.
"We are looking to be one of the top five global players in fluid handling solutions in the next five years," he added.
According to Chapalgaonkar, the core group would consider factors such as synergy, logistics advantages and specialised product offerings while making a decision.
KBL, India's largest maker and exporter of pumps, valves and pumping systems, aims to increase its exports through overseas joint ventures. Its current exports stood at Rs250 crore in 2008-09.